Press Release

June 25, 2018

Verastem Oncology to Join Russell 3000® Index

BOSTON--(BUSINESS WIRE)--Jun. 25, 2018--
Verastem, Inc. (Nasdaq:VSTM), the Company or Verastem Oncology, a
biopharmaceutical company focused on developing and commercializing
medicines to improve the survival and quality of life of cancer
patients, today announced that the Company will join the broad-market
Russell 3000® Index at the conclusion of the Russell US
Indexes annual reconstitution, effective upon the US market open on
Monday, June 25, 2018.

The annual Russell US Indexes reconstitution captures the 4,000 largest
US stocks as of May 11, ranking them by total market capitalization.
Membership in the Russell 3000® Index, which remains in place
for one year, means automatic inclusion in the large-cap Russell 1000®
Index or small-cap Russell 2000® Index as well as the
appropriate growth and value style indexes. FTSE Russell determines
membership for its Russell US Indexes primarily by objective,
market-capitalization rankings and style attributes.

Russell US Indexes are widely used by investment managers and
institutional investors as the basis for index funds and as benchmarks
for active investment strategies. Approximately $9 trillion in assets
are benchmarked against Russell US Indexes. Russell US Indexes are part
of FTSE Russell, a leading global index provider.

For more information on the Russell 3000® Index and the Russell US
Indexes reconstitution, go to the “Russell Reconstitution” section on
the FTSE
Russell website.

About Verastem Oncology

Verastem, Inc. (Nasdaq:VSTM), operating as Verastem Oncology, is a
biopharmaceutical company focused on developing and commercializing
medicines to improve the survival and quality of life of cancer
patients. Verastem Oncology is currently developing duvelisib, a dual
inhibitor of phosphoinositide 3-kinase (PI3K)-delta and PI3K-gamma,
which has successfully met its primary endpoint in a Phase 2 study in
indolent Non-Hodgkin Lymphoma (iNHL) and a Phase 3 clinical trial in
patients with chronic lymphocytic leukemia/small lymphocytic lymphoma
(CLL/SLL). Verastem Oncology’s New Drug Application (NDA) requesting the
full approval of duvelisib for the treatment of patients with relapsed
or refractory CLL/SLL, and accelerated approval for the treatment of
patients with relapsed or refractory follicular lymphoma (FL) was
accepted for filing by the U.S. Food and Drug Administration (FDA),
granted Priority Review and assigned a target action date of October 5,
2018. In addition, Verastem Oncology is developing the focal adhesion
kinase (FAK) inhibitor defactinib, which is currently being evaluated in
three separate clinical collaborations in combination with
immunotherapeutic agents for the treatment of several different cancer
types, including pancreatic cancer, ovarian cancer, non-small-cell lung
cancer (NSCLC), and mesothelioma. Verastem Oncology’s product candidates
seek to treat cancer by modulating the local tumor microenvironment and
enhancing anti-tumor immunity. For more information, please visit www.verastem.com.

Forward-looking statements notice:

This press release includes forward-looking statements about Verastem
Oncology’s strategy, future plans and prospects, including statements
regarding the development and activity of Verastem Oncology’s
investigational product candidates, including duvelisib and defactinib,
and Verastem Oncology’s PI3K and FAK programs generally, the structure
of our planned and pending clinical trials, Verastem Oncology’s
financial guidance and the timeline and indications for clinical
development and regulatory submissions. The words "anticipate,"
"believe," "estimate," "expect," "intend," "may," "plan," "predict,"
"project," "target," "potential," "will," "would," "could," "should,"
"continue," and similar expressions are intended to identify
forward-looking statements, although not all forward-looking statements
contain these identifying words. Each forward-looking statement is
subject to risks and uncertainties that could cause actual results to
differ materially from those expressed or implied in such statement.
Applicable risks and uncertainties include the risks that approval of
Verastem Oncology’s New Drug Application for duvelisib will not occur on
the expected timeframe or at all, including by the U.S. Food and Drug
Administration’s target action date; that a filing of a European
Marketing Application may not be achieved in fiscal year 2019 or at all;
that even if data from clinical trials is positive, regulatory
authorities may require additional studies for approval or may approve
for indications or patient populations that are not as broad as intended
and the product may not prove to be safe and effective or may require
labeling with use or distribution restrictions; that the preclinical
testing of Verastem Oncology’s product candidates and preliminary or
interim data from clinical trials may not be predictive of the results
or success of ongoing or later clinical trials; that the full data from
the DUO study will not be consistent with the previously presented
results of the study; that data may not be available when expected,
including for the Phase 3 DUO study; that the degree of market
acceptance of product candidates, if approved, may be lower than
expected; that the timing, scope and rate of reimbursement for our
product candidates is uncertain; that there may be competitive
developments affecting our product candidates; that data may not be
available when expected; that enrollment of clinical trials may take
longer than expected; that our product candidates will cause unexpected
safety events or result in an unmanageable safety profile as compared to
their level of efficacy; that duvelisib will be ineffective at treating
patients with lymphoid malignancies; that Verastem Oncology will be
unable to successfully initiate or complete the clinical development and
eventual commercialization of its product candidates; that the
development and commercialization of Verastem Oncology’s product
candidates will take longer or cost more than planned; that Verastem
Oncology may not have sufficient cash to fund its contemplated
operations; that Verastem Oncology or Infinity Pharmaceuticals, Inc.
will fail to fully perform under the duvelisib license agreement; that
Verastem Oncology may be unable to make additional draws under its debt
facility or obtain adequate financing in the future through product
licensing, co-promotional arrangements, public or private equity, debt
financing or otherwise; that Verastem Oncology will not pursue or submit
regulatory filings for its product candidates, including for duvelisib
in patients with CLL/SLL or iNHL; and that Verastem Oncology’s product
candidates will not receive regulatory approval, become commercially
successful products, or result in new treatment options being offered to
patients. Other risks and uncertainties include those identified under
the heading "Risk Factors" in the Company’s Annual Report on Form 10-K
for the year ended December 31, 2017 as filed with the Securities and
Exchange Commission (SEC) on March 13, 2018 and in any subsequent
filings with the SEC. The forward-looking statements contained in this
press release reflect Verastem Oncology’s views as of the date hereof,
and the Company does not assume and specifically disclaims any
obligation to update any forward-looking statements whether as a result
of new information, future events or otherwise, except as required by
law.

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